Toffee, the mobile-first, digital-only insurance platform launches, delivering insurance policies customized to millennials’ lifestyle-related risks.
With Toffee the entire user experience is digital via a progressive web app for a frictionless experience. Intelligent algorithms at the back-end offer speed and personalization, on average reducing purchase time to 90 seconds, along with simple claim processing in under two hours.
What makes Toffee different:
- Delightful UX
- End-to-end digital experience that leverages technology for policy issuance and servicing
- Simple product language delivered via seamless user experience
- Curated Products & Community Engagement
- De-bundled products that are contextualized, easy to understand, with low price on-the-go purchase.
- Toffee has a unique distribution approach, serving as a bridge between communities by connecting groups and individuals with similar interests and risk profiles.
- Personalization through Data
- With granular and deep data capture, Toffee will be able to analyze, predict and customize product offerings that reduce incremental risk for this young demographic.
- Third party integrations & analytics to personalize offerings
Products at launch: Pricing ranges between INR 600 - INR 1500
- Anti-Dengue Toffee - A policy for the treatment for Dengue.
- Commuters Toffee - A policy for daily commuters exposed to accidents.
- Globetrotter Toffee - A policy for international travel without market/regional exclusions.
Additional product roll out will take place over the next three months, expanding the offering to include Renters Toffee, Backpacker Toffee, and Stay Fit Toffee.
Rohan Kumar, Co-Founder and CEO, Toffee said – “Using behavioral and real-time data, Toffee has been designed to create personalized and relevant product offerings to essentially disrupt how one thinks about insurance.”
Nishant Jain, Co-Founder and CPO, Toffee said - “We saw a gap in the insurance industry from the outside. Insurance needed a completely new avatar in structure and packaging for the new generation. With our experience in the digital environment, we developed a new means of insurance for this audience.’